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Yonhap News Summary

2017/09/27 19:13

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The following is the second summary of major stories moved by Yonhap News Agency on Wednesday.

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SK hynix to invest 4 tln won in consortium for Toshiba's memory arm takeover

SEOUL -- South Korea's No. 2 chipmaker SK hynix Inc. said Wednesday its board of directors approved a plan to inject 4 trillion won (US$3.5 billion) in a consortium to buy Japan's Toshiba Corp.'s memory arm.

The investment can allow the SK hynix to secure up to 15 percent stake in the Japanese firm's memory unit.

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(2nd LD) 11,000 homeless people in S. Korea: survey

SEOUL -- There are currently more than 11,000 homeless people in South Korea, a government survey showed Wednesday.

According to the survey by the Ministry of Health and Welfare, 11,340 homeless people were registered as of October of last year with 1,522 of them living on the streets, 493 of them in temporary facilities and 9,325 residing in rehabilitation centers.

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S. Korea's key rate is below neutral rate: board member

SEOUL -- South Korea's key rate is below neutral levels, a monetary board member said Wednesday, in the latest signal that the country's central bank could move to raise interest rates going forward.

Shin In-seok, a member of the BOK monetary policy board, made the assessment in a meeting with reporters, noting that the BOK's monetary policy is accommodative.

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(2nd LD) S. Korea unveils new duty-free license scheme to improve transparency, fairness

SEJONG -- The South Korean government on Wednesday unveiled a new duty-free license scheme to improve transparency and fairness as part of efforts to revamp the scandal-hit sector.

Under the plan, the government will form a neutral private panel to examine the qualifications of applicants and grant permits, according to a task force under the Ministry of Strategy and Finance.

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President Moon vows assistance for N. Koreans despite nuclear tension

SEOUL -- South Korean President Moon Jae-in said Wednesday that his government will continue to provide humanitarian aid to North Korea despite growing tensions over its nuclear and missile provocations.

In a meeting with some 200 leaders of the presidential advisory council at the presidential office Cheong Wa Dae, Moon insisted that peace is made rather than given or found.

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